eFXdata reports that Credit Suisse discusses CHF outlook.

"We believe that the SNB sold CHF 583 million worth of FX reserves in February. A small amount compared to a total of CHF 934 billion. However, it appears that the SNB shifted reserves in March as well. These sales should not be seen as a tightening of monetary policy but as an attempt to defuse the tensions with the US. Nevertheless, we believe this move introduces more two-way risk in EURCHF from here, keeping FX vols supported," Credit Suisse adds.